The Global Healthcare Facilities Management Market is expected to register a CAGR of about 13.5% during 2018-2023 (the forecast period).
Owing to the growing demand for integrated and well-managed healthcare systems and increase in the number of prevalence of chronic diseases in the region, North America is dominating the market.
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Growth in Healthcare Expenditure
Healthcare has become one of the leading sectors, owing to the increasing number of patients and healthcare expenditure by public as well as private players in healthcare systems. According the data published by the Centers for Medicare & Medicaid Services (CMS), the US healthcare expenditures rose from 5.3% in 2014 to USD 3 trillion, or USD 9,523 per person, accounting for about 17.5%t of the GDP. The market is growing at a tremendous pace, owing to growth in insurance coverage. The increasing number of patients has led to a growth in demand for the number of hospitals in emerging countries. This factor is likely to boost the healthcare facilities management market during forecast period. In addition, growth in patient pool, increase in medical tourism in emerging countries, and technological advancement in facilities management are also fuelling the healthcare facilities management market.
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Gap between Providers and Payers
The wide gap between healthcare payers and management services providers, in terms of operation and availability of advanced healthcare facilities, and the high cost involved in the setup of streamline systems, coupled with the lack of technical expertise, and sufficient knowledge base, are likely to impede the growth of healthcare facilities management market in mid-tier and low tier hospitals.
North America to Dominate the Market
The healthcare facilities management market has been segmented on the basis of service type, end user, and geography. By geography, this market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
North America dominates the healthcare facilities management market, due to the well-developed healthcare infrastructure and growth in healthcare spending in the region. Asia-Pacific is also expected to grow tremendously during forecast period, owing to the factors, such as the increase in disposable income, rising health awareness, changing attitude toward preventive healthcare, and the presence of huge patient pool. These factors are expected to boost the healthcare sector in emerging countries and augment the demand for healthcare facilities management services in Asia-Pacific.
Key Developments in the Market
December 2017: Ecolab Inc. acquired Arpal Group., based in Selkirk, Scotland, Arpal Group provides cleaning and sanitizing products and services in the United Kingdom and the Middle East.
January 2017: Aramark acquired AmeriPride Service Inc., which enabled Aramark to enhance its customer service.
Major Players: SIEGEL-GALLAGHER MANAGEMENT COMPANY, INC., JONES LANG LASALLE, ISS WORLD SERVICES A/S, ABM, ECOLAB USA INC., OCS GROUP, MEDXCEL FACILITIES MANAGEMENT, ARAMARK, VANGUARD RESOURCES, AND MITIE GROUP PLC, amongst others.
Reasons to Purchase this Report
- Current and future global healthcare facilities management market outlook in the developed and emerging markets
- Various perspectives of the market, with the help of Porter’s five forces analysis
- The segment expected to dominate the market
- The region expected to witness the fastest growth rate during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in excel)
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Companies Mentioned:
SIEGEL-GALLAGHER MANAGEMENT COMPANY INC., JONES LANG LASALLE, ISS WORLD SERVICES A/S, ABM, ECOLAB USA INC., OCS GROUP, MEDXCEL FACILITIES MANAGEMENT, ARAMARK, VANGUARD RESOURCES, MITIE GROUP PLC
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